Evercore ISI Raises Allstate (NYSE:ALL) Price Target to $195.00

Allstate (NYSE:ALL) had its price objective lifted by investment analysts at Evercore ISI from $191.00 to $195.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “in-line” rating on the insurance provider’s stock. Evercore ISI’s target price would suggest a potential upside of 7.14% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Barclays began coverage on Allstate in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $175.00 price target for the company. Piper Sandler raised their target price on shares of Allstate from $188.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Roth Mkm reiterated a “buy” rating and issued a $200.00 price target on shares of Allstate in a research note on Wednesday, August 14th. Bank of America boosted their target price on shares of Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, StockNews.com downgraded Allstate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Allstate currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.41.

Allstate Price Performance

Allstate stock opened at $182.00 on Wednesday. The company has a market capitalization of $48.03 billion, a price-to-earnings ratio of 40.18, a PEG ratio of 1.81 and a beta of 0.48. The stock’s 50 day moving average is $183.60 and its 200-day moving average is $172.72. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. Allstate has a 12 month low of $113.04 and a 12 month high of $193.97.

Allstate (NYSE:ALL) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.28. The firm had revenue of $15.71 billion for the quarter, compared to analyst estimates of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($4.42) EPS. Equities research analysts expect that Allstate will post 15.2 EPS for the current year.

Insider Buying and Selling at Allstate

In other Allstate news, insider John E. Dugenske sold 36,367 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the completion of the transaction, the insider now directly owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Suren Gupta sold 45,775 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $177.28, for a total value of $8,114,992.00. Following the transaction, the insider now owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John E. Dugenske sold 36,367 shares of Allstate stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $191.38, for a total transaction of $6,959,916.46. Following the sale, the insider now owns 27,364 shares of the company’s stock, valued at approximately $5,236,922.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 238,305 shares of company stock worth $43,082,657 over the last three months. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brevan Howard Capital Management LP lifted its position in Allstate by 204.9% in the fourth quarter. Brevan Howard Capital Management LP now owns 8,917 shares of the insurance provider’s stock valued at $1,248,000 after purchasing an additional 5,992 shares during the last quarter. Bain Capital Public Equity LP increased its stake in shares of Allstate by 138.5% in the fourth quarter. Bain Capital Public Equity LP now owns 34,828 shares of the insurance provider’s stock worth $4,875,000 after buying an additional 20,228 shares during the period. Bain Capital Public Equity Management II LLC raised its holdings in Allstate by 7.1% during the 4th quarter. Bain Capital Public Equity Management II LLC now owns 214,454 shares of the insurance provider’s stock valued at $30,019,000 after buying an additional 14,254 shares during the last quarter. Gillson Capital LP purchased a new stake in Allstate during the 4th quarter valued at $38,685,000. Finally, Palestra Capital Management LLC purchased a new stake in Allstate during the 4th quarter valued at $83,561,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

About Allstate

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.